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The Ensign Group Acquires Wisconsin Assisted Living Facilities

MISSION VIEJO, Calif., Aug. 3, 2015 (GLOBE NEWSWIRE) -- The Ensign Group, Inc. (NASDAQ:ENSG), the parent company of the Ensign™ group of skilled nursing, rehabilitative care services, home health care, hospice care, assisted living and urgent care companies, announced today that it has acquired fifteen assisted living operations located throughout Wisconsin. As part of the transaction, Ensign assumed a long-term master lease, which includes an option to purchase all of the real estate. The acquisition was effective August 1, 2015, and includes:

  • Scandinavian Court Assisted Living, a 19-unit assisted living facility in Denmark, Wisconsin;
  • Brenwood Park Assisted Living, a 46-unit assisted living facility in Franklin, Wisconsin;
  • Cottonwood Manor Assisted Living, a 30-unit assisted living facility in Green Bay, Wisconsin;
  • Madison Pointe Senior Living, a 39-unit assisted living facility in Madison, Wisconsin;
  • Kenosha Senior Living, a 37-unit assisted living facility in Kenosha, Wisconsin;
  • Harbor View Assisted Living, a 39-unit assisted living facility in Manitowoc, Wisconsin;
  • McFarland Villa Assisted Living, a 35-unit assisted living facility in McFarland, Wisconsin;
  • Racine Commons Assisted Living, a 74-unit assisted living facility in Racine, Wisconsin;
  • Riverview Village Senior Living, a 44-unit assisted living facility in Menomonee Falls, Wisconsin;
  • The Shores of Sheboygan Assisted Living, a 67-unit assisted living facility in Sheboygan, Wisconsin;
  • Willow Brooke Senior Living, a 82-unit assisted living facility in Stevens Point, Wisconsin;
  • Stoughton Meadows Assisted Living, a 39-unit assisted living facility in Stoughton, Wisconsin;
  • Meadow View Assisted Living, a 24-unit assisted living facility in Two Rivers, Wisconsin;
  • Mountain Terrace Senior Living, a 72-unit assisted living facility in Wausau, Wisconsin;
  • Cranberry Court Assisted Living, a 40-unit assisted living facility in Wisconsin Rapids, Wisconsin.

"This acquisition represents a unique opportunity to bolster our footprint in the State of Wisconsin," said Christopher Christensen, Ensign's President and Chief Executive Officer. "We are excited to welcome a team of caregivers devoted to providing the best care possible while serving the residents, their families and the local community," he added.

"We are fortunate to add a wonderful team to the Ensign family and will remain focused on continuing to serve the needs of this community," said John Gurrieri, President of Bridgestone Living LLC, Ensign's seniors housing subsidiary. He also added that he expects that these facilities, which had a combined occupancy rate of 83% at acquisition, to be mildly accretive to earnings in 2015.

This acquisition brings Ensign's growing portfolio to 176 healthcare facilities, twenty-seven of which are owned, thirteen hospice agencies, fourteen home health agencies, three home care businesses and seventeen urgent care clinics across 12 states. Mr. Christensen reiterated that Ensign continues to see a very healthy pipeline for growth opportunities within its existing footprint and in new markets. He also indicated that the organization is actively seeking and negotiating several other transactions to acquire real estate and to lease both well-performing and struggling skilled nursing, assisted living and other healthcare related businesses.

About Ensign(TM)

The Ensign Group, Inc.'s independent operating subsidiaries provide a broad spectrum of skilled nursing and assisted living services, physical, occupational and speech therapies, home health and hospice services, urgent care services and other rehabilitative and healthcare services at 176 facilities, thirteen hospice agencies, fourteen home health agencies, three home care businesses and seventeen urgent care clinics in California, Arizona, Texas, Washington, Utah, Idaho, Colorado, Nevada, Iowa, Nebraska, Oregon and Wisconsin. More information about Ensign is available at http://www.ensigngroup.net.

CONTACT: The Ensign Group, Inc. (949) 487-9500 ir@ensigngroup.net

Source:The Ensign Group, Inc.